Potential Impact of U.S. Auto Tariffs…Car Exports to the U.S. Decreased by 24.7% YoY,
[Export cars parked in Yokohama, Japan (Reuters=Yonhap News)]
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, ‘Japan recorded a trade deficit for the second consecutive month.’,
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, ‘According to preliminary trade statistics for May released by the Japanese Ministry of Finance on the 18th, last month’s trade balance recorded a deficit of 637.6 billion yen (about 8.8 trillion won).’,
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, ‘Thus, Japan’s trade balance showed a deficit for the second consecutive month.’,
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, ‘Japan’s total exports last month amounted to 8.135 trillion yen, down 1.7% compared to the same month last year, and imports decreased by 7.7% to 8.7726 trillion yen.’,
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, ‘By region, Japan recorded a trade deficit of 624.9 billion yen with China, while it achieved a surplus of 451.7 billion yen with the United States.’,
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, ‘However, exports to the U.S. fell by 11.1% to 1.514 trillion yen, continuing a decline for two consecutive months.’,
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, ‘The decline in Japanese exports to the U.S. is largely attributed to the potential impact of the automobile tariffs imposed by the Donald Trump administration.’,
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, ‘In fact, last month, the export value of cars to the U.S. fell by 24.7% to 363.4 billion yen, and the number of exported cars decreased by 3.9%, while the export value of auto parts also decreased by 19.0%.’,
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, ‘Kyodo News reported “The impact of high tariffs seems to have increased the proportion of low-cost models among exported vehicles.”‘,
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